Chilean Inks IFC Energy Facility

The IFC has agreed to loan $75m to Chile’s Banco BICE to help it finance non-conventional renewable energy (NCRE) projects, it says. The 10-year credit line is the IFC’s first to a South American bank targeting only renewable energy-focused projects, it says. The interest rate was not disclosed. The loan supports lending to borrowers involved technologies such as hydropower, biomass, solar, geothermal and wind power.